planetdan

Wednesday, May 19, 2004 :::

Trickle Down Economics Indeed

Like we needed specific examples of why this doesn't work. From Wired:

When President Bush was promising last year that his tax cuts would revive the economy, he visited the Timken Company manufacturing plant near Canton, Ohio. In a speech to workers, he said that "the future of this company is bright and, therefore, the future of employment is bright for the families that work here." A year later, the plant -- owned by prominent Bush fundraiser W.R. "Tim" Timken -- is shutting down, throwing 1,300 people out of work. Since Bush took office, Ohio has lost more than 200,000 jobs. But the tax cuts are working, at least for the likes of Timken. He earned $2.6 million last year and can expect a tax break of roughly $60,000.

And don't forget to keep reading McSweeney's Daily Reasons to Dispatch Bush.

::: posted by dan at 10:54 AM :: [ link ] :: (0) comments

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